Global CLO b-wic round-up: that's another fine mezz you've gotten me into9 hours ago
European CLO investors are tripping over themselves to buy mezzanine paper in the secondary CLO market
Standard Chartered looks to expand London CLO trading team5 days ago
Standard Chartered is looking to bolster its CLO team by hiring a trader in London
- There is renewed hope for junior US CLO debt tranches this year with plenty of funds raised in late 2019 targeting this opportunity and a spike in trading volumes in the early weeks of January. However, dangers still lurk with investors cautious about allocating to CLOs that have barbelled portfolios.
Global CLO b-wic round-up: equity, equity everywhere, but trading volumes sink21 days ago
For the second week in a row, over $230 million of US CLO equity went on sale and multiple control equity positions were listed in the CLO secondary market
BofA promotes CLO trader to managing director25 days ago
A CLO trader, who has spent over 12 years at Bank of America, has been promoted to managing director in New York
Three US CLO anchor equity positions go on sale one week after payment dates26 days ago
A trifecta of control equity positions in US CLOs are available to bid on later today, one week after all three deals made scheduled payments to their investors.
Global CLO b-wic round-up: US CLO equity returns in big way as four control positions hit the market28 days ago
Over $230 million of US CLO equity went on sale last week via bid lists, the first time these assets have made their way to the secondary market in 2020. It also marks the most US CLO equity listed in a week since at least 2018, according to CLO-i
Two CLO control equity pieces go on sale one day before major dates1 month ago
A pair of control equity positions are up for sale today as investors test the waters in the secondary market
Global CLO b-wic round-up: junior mezz rebounds with busiest week since June1 month ago
Secondary market CLO trading has made a busy start to 2020 with $478.6 million of US deals and €103.3 million of European CLOs up for sale last week
Managers amend CLO structures amid refinancing ripple2 months ago
CLO managers have deployed various measures to keep their deals ticking amid a European refinancing wave.
Global CLO b-wic round-up: Junior mezz covers return while triple A supply drives big week2 months ago
Narrowing of the bid-ask gap that has plagued junior mezzanine tranches could bring a change of fortunes in the US CLO secondary market
Established firms say managers new to European CLOs will struggle to attract assets3 months ago
New managers making their way in the European CLO market may have a fight on their hands, with sources noting the difficulty these firms face in getting sizeable allocations.
US CLO's anchor equity on sale for first time4 months ago
The 23rd anchor equity position in a US CLO has been listed on the secondary market today, with $36.875 million of Anchorage Capital 6,up for sale at 1.30pm New York time.
Global CLO b-wic round-up: volumes jump as investors get their triple A fix4 months ago
The US CLO secondary market brought over $1.2 billion in total listings last week with the main driver behind last week’s supply being an increase in US CLO triple A bonds and an anchor equity position.
Global CLO b-wic round-up: control stake trades as junior notes come to the fore4 months ago
The European and US CLO secondary markets produced high volumes of junior and subordinated notes last week. Over 30% of listings were rated as equity, single B or double B.
CLOs take advantage of valuations to cash out of Refinitiv4 months ago
Refinitiv US Holdings was the most sold US issuer in July immediately following the announcement that the London Stock Exchange Group was to buy the firm.
Rate cuts force US and Europe price re-adjustment4 months ago
Central banks’ latest round of interest rate cuts sent relative value between US and European CLOs to head into a whirlwind in recent weeks, sources say
Global CLO b-wic round-up: US and European double B trading patterns diverge4 months ago
48% of the CLO secondary market was made up of triple A bonds; $255.6 million of US CLOs and €108.55 million of European CLOs. But there were differences in how CLO double Bs are trading in those markets.
Creditflux CLO Census goes live4 months ago
Creditflux has opened the voting for its third CLO Census. The annual survey aims to determine who the best CLO service providers are – including arranging banks, law firms, trustees and trading desks – while also shedding light on where market participants stand on key industry issues, answering questions such as: should CLOs incorporate ESG investment guidelines?
Global CLO b-wic round-up: secondary market awakens with control equity bonanza5 months ago
Four anchor positions made available on secondary market as equity accounts for over a third of all volumes.
CLO managers look to move away from ‘spiky’ triple Cs5 months ago
CLO managers are in the process of de-risking their portfolios by rotating out of triple Cs into less risky credits following a volatile month in markets, according to multiple sources. Creditflux analysis shows that, for the past couple of years, managers have become emboldened with triple C and B3/B- loans making up 25% of the portfolios of 50 US CLO managers.
One day, two investors, three CLO controlling stakes in secondary5 months ago
Two investors are inviting bids for anchor positions they hold in three CLOs.
CLO 'mascot' appears on b-wic but fails to trade5 months ago
A $2.25 million triple B CLO tranche with a mascot feature embedded appeared in the secondary market yesterday, but failed to trade.
Rival manager’s warehouse contributes to new CIFC US CLO6 months ago
CIFC Asset Management has had a productive year after pricing four new issue US CLOs but sources say that the manager’s latest deal, CIFC Funding 2019-IV, owes a lot to another CLO manager.
THL anchor CLO equity seeks purchase in secondary market6 months ago
Up for auction later today is the 15th controlling stake in a US CLO this year, with nine of the previous 14 having failed to trade
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